BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a general annuity, variable ‘j’ stands for?
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The regular payment
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the equivalent interest rate per payment interval converted from the interest rate per period.
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the interest rate per period
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the number of conversion periods in the deferral.
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Explanation:
Detailed explanation-1: -In a general annuity, variable ‘j’ stands for? The regular payment. the equivalent interest rate per payment interval converted from the interest rate per period. the interest rate per period.
Detailed explanation-2: -j = nominal annual rate of interest. m = number of compounding periods.
Detailed explanation-3: -Ultimately, to calculate the interest rate in an ordinary annuity, the equation is expressed A = P(1 + rt).
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